Guru Jeff: "in order to achieve a rate greater than the dollar they have to un-peg the dinar from the dollar and re-peg it to an assortment basket identical to Kuwait" 12/21/19

by **RamblerNash** Sun Dec 22, 2019 10:24 pm

Guru Jeff

...In the past Iraq has always finalized and completed their budgets during Q1 of that budget year and they would just backdate the budget to January 1st...This is one of the first years they're implementing a temporary budget.

What the temporary budget tells us is that yes they're following suit as they have in the past. They're approving their 2020 budget in Q1 of 2020 but because they're implementing a temporary budget that tells us they're not backdating the 2020 budget to start January 1st.

So what they're saying is they need external funds to cover them through Q1 of 2020 because the 2020 budget is not going to be backdated or starting on January 1st...

They're telling us indirectly that they're going to transition to a different fiscal year and start 2020 budget most likely around Q2, which for them would be a new fiscal year ranging from April 1st through March.

Why would they transition to a different fiscal year?

That's a step they actually have to do when they change the rate...in order to achieve a rate greater than the dollar they have to un-peg the dinar from the dollar and re-peg it to an assortment basket identical to Kuwait.

That's why Kuwait on March 24th of '91 changed their rate at the end of March for their budget fiscal year which starts April 1st. As you see Iraq is right now in the process of doing that right before your eyes...

12/21/19